March 21, 2005

Brazil's 2004-05 soy harvest 36 percent complete

Harvesting of Brazil's 2004-05 soybean crop (October-September) was 36 percent complete as of Friday, ahead of the 31 percent collected at the same point last year and the five-year average of 31 percent, said local agricultural consultants Safras e Mercado Friday.

Drier weather in the centre-west of Brazil allowed fieldwork to move forward quickly from the 26 percent collected last week.

This week, Safras lowered its Brazilian soybean crop estimate to 51.9 million tonnes from 61.2 million tonnes because of dry weather in the south of the country.

In the top-producing state of Mato Grosso, farmers collected 53 percent of their crop, up from 39 percent last week and ahead of the 49 percent harvested at the same point last year.

In Parana, the No. 2 soy state in the south, some 45 percent of the crop had been collected compared with 34 percent last week and 43 percent last year.

Farmers in the drought-hit state of Rio Grande do Sul have only collected 2 percent of the crop as fieldwork only gets under way later there.

Brazil is the world's No. 2 soybean producer and exporter.